Dear Grizzly Diamonds Shareholder, In our ongoing efforts to provide broader communications and market information or commentary, we are pleased to provide you, for your interest, with Industry Sector Bulletins discussing current market opinions and/or conditions that affect the price, use and supply & demand of Diamonds. The following article as shown below discusses how; “diamond demand will substantially exceed supply in the next few years.” With the lack of new diamond mines being put into production, it is forecasted that diamond production will lag behind demand as the last substantial diamond mine was discovered 15 years ago. With ever decreasing diamond supplies, exploration companies such as Grizzly Diamonds Ltd., (focused on exploring for diamonds in Alberta) are strategically positioned to take advantage of this diamond shortage. Recently Grizzly diamonds announced that it has completed the first hole of an aggressive drill program into the Legend Kimberlite. Click the following link for Grizzly’s January 16, 2007 press release. http://www.agoracom.com/ir/grizzly/message/521283 Regards, AGORACOM Investor Relations De Beers Warns Tight Supply May Take Gloss Off Results Charlotte Mathews Resources Editor GLOBAL diamond giant De Beers Group warned on Friday that its results this year would be constrained by a tight supply of diamonds, partly as it ends its agreement to buy from Russia and partly because of an expected temporary fall in output from its flagship mines Orapa and Venetia for technical reasons. De Beers’ diamond production last year was a record 51,1-million carats, up from 49-million carats in 2005. But diamond analysts have been warning for the past few years that diamond demand will substantially exceed supply in the next few years. Although demand for diamonds is projected to continue rising, the last major diamond mine was discovered 15 years ago. Click Link Below For Entire Article http://www.businessday.co.za/articles/topstories.aspx?ID=BD4A383056